The Financial Services Regulatory Authority of Ontario has published its final Automobile Insurance Rating and Underwriting Guidance, setting out a new supervisory model for auto insurance oversight centred on fair pricing, clear communication and greater transparency. The principle-based, outcomes-focused approach defines what fair treatment of consumers looks like, introduces an accreditation process for insurers, and sets new filing privileges and requirements for both accredited and non-accredited insurers. The model is also intended to provide insurers with more flexibility to innovate and streamline certain filing processes. FSRA plans to continue working with the industry to support implementation of the new model before the Guidance takes effect.
Financial Services Regulatory Authority of Ontario 2025-09-23
Financial Services Regulatory Authority of Ontario finalises auto insurance rating and underwriting guidance introducing insurer accreditation and new filing rules
The Financial Services Regulatory Authority of Ontario has issued its final Automobile Insurance Rating and Underwriting Guidance, establishing a supervisory model focused on fair pricing, clear communication, and transparency. This principle-based approach outlines fair consumer treatment, introduces insurer accreditation, and sets filing requirements. The FSRA will collaborate with the industry to support implementation before the guidance becomes effective.